Post Media Network Inc.

Toronto, Ontario, Canada

Postmedia Network Inc. is Canada's largest newspaper publisher, operating more than 130 print and digital news brands. It is the operating subsidiary of the publicly traded Postmedia Network Canada Corp., whose majority shareholder is the U.S. hedge fund Chatham Asset Management.

Overview

Postmedia Network Inc. is a Canadian news-media company headquartered in Toronto, Ontario. It is the operating subsidiary of Postmedia Network Canada Corp. (TSX: PNC.A, PNC.B), which describes itself as the holding company that owns Postmedia Network Inc. Postmedia publishes more than 130 print and digital news brands across Canada.

Portfolio

• National titles: the National Post and the Financial Post.

• Major metro dailies: the Vancouver Sun, The Province, Calgary Herald, Edmonton Journal, Ottawa Citizen, and Montreal Gazette.

• Sun tabloids: the Toronto Sun, Ottawa Sun, Calgary Sun, Edmonton Sun, and Winnipeg Sun.

• Regional and community papers, including the Windsor Star and dozens of smaller daily and weekly titles across Ontario, the Prairies, and British Columbia.

• PNI Atlantic News (formerly SaltWire Network and the Halifax Herald Ltd.), covering Nova Scotia, Prince Edward Island, and Newfoundland and Labrador, including the Chronicle Herald, Cape Breton Post, The Guardian, and The Telegram.

• New Brunswick titles acquired from Brunswick News Inc., including the Telegraph-Journal and the Daily Gleaner.

• Postmedia Parcel Services, a home-delivery and distribution operation.

Ownership

Postmedia Network Canada Corp. is publicly traded on the Toronto Stock Exchange under dual-class shares: Class C Voting Shares (PNC.A), which can be held only by Canadians, and Class NC Variable Voting Shares (PNC.B), whose voting power is reduced if non-Canadian ownership exceeds 49.9 percent. Chatham Asset Management, LLC, a U.S. hedge fund based in Chatham Borough, New Jersey, holds the largest stake, reported at roughly two-thirds of outstanding shares (estimates in company disclosures and press coverage have ranged from about 63 to 66 percent since Chatham became the majority shareholder in November 2019). Because of the dual-class structure, Chatham is limited to electing about one-third of Postmedia's board and does not hold formal control of day-to-day operations, though the extent of its influence has been publicly disputed. Other reported shareholders at various points have included Allianz Global Investors, investor Leon Cooperman, and Canso Investment Counsel Ltd.

History

Postmedia Network Canada Corp. was founded July 13, 2010, formed to acquire the newspaper assets of the bankrupt Canwest Global Communications Corp. The company began trading publicly on the Toronto Stock Exchange in 2011. In 2015, Postmedia acquired Sun Media's English-language newspapers from Quebecor and completed a title swap with Torstar Corporation involving 41 publications. A major 2016 debt restructuring cut roughly $307 million in debt and converted Chatham Asset Management's second-lien notes into equity. In November 2019, Chatham became Postmedia's majority shareholder.

In February 2022, Postmedia acquired Brunswick News Inc., the New Brunswick newspaper business of the Irving family's J.D. Irving Inc., for $7.5 million in cash and $8.6 million in variable voting shares. In 2023, Postmedia and NordStar Capital LP (owner of the Toronto Star and Metroland Media Group) held non-binding merger discussions; the talks did not result in a completed transaction. In August 2024, Postmedia Network Inc. closed a $1 million purchase of the insolvent SaltWire Network Inc. and the Halifax Herald Ltd., Atlantic Canada's largest newspaper chain, following a creditor-protection process; the acquired titles were rebranded as PNI Atlantic News in December 2024, with head-office functions moved to Toronto.

Leadership

• Andrew MacLeod has served as President and Chief Executive Officer of Postmedia Network Inc. and Postmedia Network Canada Corp. since November 2019, succeeding founding CEO Paul Godfrey.

• Peter Sharpe, previously lead director and a former CEO of Cadillac Fairview Corp., has served as Chair of Postmedia's board since June 2023, when he assumed the role on an interim basis following Jamie Irving's resignation as executive chair; Postmedia identified Sharpe as Chair of the Board in company communications as of March 2025.

• Paul Godfrey led Postmedia as founding CEO from 2010, then served as Executive Chairman and later non-executive Chair before stepping down from the board at the end of 2022; he continues as a special advisor to the board and CEO.

Location and contact info

Headquarters
Toronto, Ontario, Canada
Website
https://www.postmedia.com